Hi all-
I'm in the process of closing on a property that will require some major repairs. I was lucky to get it at a pretty solid price (60% of ARV) and will spend in the range of $30-40K on repairs. Current plan is to rent out once the repairs are done, but I may consider selling if the surrounding area continues to sell well.
I've combed through the forums and blog posts but wasn't able to find any guidance for this particular topic. Should I plan on handling specific repairs (roofing, electrical wiring, plumbing) on my own with contractors and then hire a GC to handle the rest (painting, kitchen & bathroom remodel, flooring, etc.)?
My rationale for coordinating the major repairs myself is bc I feel like I have a good sense of who the best contractors are in the area (e.g. Roofer and electrician have hundreds of reviews of Yelp at nearly 5 stars and were recommended by a friend). However, for the other projects, I feel like it would be easier to bundle those up with a single GC and have them complete as a single project.
Is that a smart way to go about it? Hire the best, local vendors to handle major ticket items and then use a GC for everything else? I'm guessing this may be a bit more expensive as I'll essentially have 3-4 groups working on all the repairs vs a single GC?
